Sure, let’s smoosh SpaceX and Tesla together, who cares

SpaceX and Tesla have formed special committees to discuss a potential merger. The article examines the rationale, including Elon Musk's vision of developing superintelligence software and the financial conflicts of interest between his companies, which compete for the same Nvidia chips and AI talent. It reviews both companies' recent earnings: SpaceX's AI division revenue surged to $7 billion, while Tesla posted declining profits as Musk shifts focus to robots and self-driving taxis. It discusses joint projects like Terafab and Macrohard, which remain in very early stages with uncertain financial terms. The piece explores the financial and legal mechanics of a stock-for-stock merger, including how it would give Musk voting control of Tesla, a payout from his compensation package, and dilution for SpaceX shareholders. It concludes that despite weak numbers, the merger ultimately reflects how much investors believe in Musk himself.

(Source：The Verge)